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Cennox acquires Bancsource

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June 16, 2021

Cennox, a provider of support services to the financial, retail and transportation industries, has acquired the U.S. financial equipment and services business, Bancsource, enabling Cennox to expand operations across the U.S., according to a press release.

Terms of the transaction were not disclosed.

"With a range of high-profile clients, the acquisition of Bancsource supports the Cennox strategy of increasing its banking and non-banking solutions, as well as geographic coverage for its key customers and OEM partners," Clive Nation, founder and CEO of Cennox, said in the press release.

The expanded business will serve more than 700 financial institutions and non-financial institutions across the U.S. and will manage over 100,000 ATMs, ITMs, bitcoin ATMs and smart safes.